In this article, we will discuss five stocks that are getting hammered on Friday. If you want to take a look at some more stocks that are declining today and the latest market situation, go directly to 10 Stocks Getting Hammered on Friday.
5. Becton, Dickinson, and Company (NYSE:BDX) has decreased 1.2% as of 12:17 PM ET after Jayson Bedford at Raymond James resumed coverage on the stock with a Neutral rating and without a formal target price. The analyst is waiting for a more attractive entry point in the stock of the New Jersey-based medical instruments and supplies corporation. Bedford further added that the company’s growth profile is supported by the YTD outperformance relative to other medical technology companies and its current valuation. At the end of Q4 2021, 54 hedge funds reported owning a stake in Becton, Dickinson, and Company (NYSE:BDX), up from 51 in the last quarter.
4. Ambac Financial Group, Inc. (NYSE:AMBC) has recorded a sharp decline of 22% as of 12:23 PM ET. The New York-based specialty insurance company revealed that a recent court ruling related to the breach of a contract case in connection to its insured residential mortgage-backed securities (RMBS) transactions against Ambac Assurance Corp could significantly impact the organization. Of the 924 hedge funds in Insider Monkey’s database, 16 reported owning a stake in Ambac Financial Group, Inc. (NYSE:AMBC) as of Q4 2021.
3. TransUnion (NYSE:TRU) is down over 1% as of 12:33 PM ET after the Chicago, Illinois-based risk and information solution provider was downgraded by George Tong at Goldman Sachs from a Buy to a Neutral rating. The analyst thinks the stock price would remain range-bound in the short term following the margin dilutive acquisition of Neustar and due to the expectation of lower mortgage origination in the US, impacted by macroeconomic and geopolitical circumstances. However, Tong also highlighted the strong international growth prospects and potential for gaining market share as some of the catalysts for TransUnion (NYSE:TRU). On a sequential basis, the number of hedge funds holding a position in TransUnion (NYSE:TRU) decreased from 38 in the third quarter to 34 in Q4 2021.
2. Eni S.p.A (NYSE:E) has crashed 3.3% as of 12:39 PM ET after the European integrated oil and gas company reduced its planned growth of upstream production from 4% previously to 3% every year until 2025. This was revealed by Eni S.p.A (NYSE:E) in an updated capital markets strategy issued earlier today. Furthermore, Eni S.p.A (NYSE:E) also announced that it intends to spin off Plenitude, the renewable energy and retail business arm of the energy giant. The Rome, Italy-based oil major is in the portfolio of only three hedge funds as of Q4 2021.
1. Centerra Gold Inc. (NYSE:CGAU) is down over 4.4% as of 12:54 PM ET after the company revealed it has temporarily suspended the production of gold bars at its Oksut mine in Turkey. This step was taken after mercury was detected in some parts of the plant. Centerra Gold Inc. (NYSE:CGAU) further added that it is making significant efforts in preventing exposure at the mine by clearing the mercury from the affected areas. The company has also implemented safety protocols and is looking into how mercury can be removed from the gold recovered from the mine. Despite this interference, the mining process of ore is still going on. The company is assessing the impact of the closure on its final guidance for 2022. As of Q4 2021, Centerra Gold Inc. (NYSE:CGAU) was in the portfolio of nine hedge funds.
You can also take a peek at the 10 Best Index Funds to Invest In 2022 and Top 10 Stock Picks of Anand Parekh’s Alyeska Investment Group.
